Highlights of Feb. 4 Board of Supervisors Meeting
- The Board acted on a preliminary budget for Fiscal Year 2011 (which begins on October 1) that will set the annual assessment for Phase II (CDD) homeowners at $59.31, down from this year's $67.71. The Board dipped into the CDD's reserve to lower the assessment, which will appear on Lake County Tax bills late this year. Discussion and final adoption of the tentative budget and assessment will take place at the Board's August 5 meeting.
- District Manager Gary Moyer, of Severn Trent Services, advised the Board that the company anticipates final payment on the 1994 construction bonds will take place in May 2012.
- Given the payoff information above, Staff Attorney Scott Clark advised that he will present the Board with a proposed resolution at the August 2011 Board meeting asking the Mount Dora City Council to dissolve the CDD after the bonds are paid. The Board will be required to take several actions in advance of termination of the CDD, including authorizing a final audit of CDD funds. At the end of the CDD's life, it will refund to property owners any money remaining in the General fund, which pays for the operating expenses of the CDD. That is likely to be only a modest amount.
- The Board accepted audits of the CDD's funds for Fiscal Years 2008 and 2009. There were no exceptions and no recommendations for administrative improvements.
- The next meeting of the Board will be on August 5.
-Bob Foster
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